#bitcoin Bitcoin Strength Fades as Crypto Market Remains in 5-Month Structural Downtrend
$BTC Bitcoin’s weekend rally to $65,000 has evaporated despite confirmation that the U.S. Federal Reserve will cut rates in 2024.
Bitcoin rallied to $65,000 over the weekend (August 24-25), extending a three-week recovery since its August 5 plunge to $49,500.
With prices returning to comfort zones for many investors, traders are likely wondering whether to expect more range-bound trading, consolidation, or a push to new highs.
#sentiment Hold on a little longer, take the opportunity to buy more because the market will rise a lot soon.